US-based Universal Stainless & Alloy Products, Inc. (Universal) has stated that, at a special meeting of its shareholders, almost all of them voted in favor of the company’s acquisition by Luxembourg-headquartered global stainless steel producer Aperam SA.
Under the terms of the merger agreement, Universal stockholders are entitled to receive $45.00 per share in cash for every share of Universal common stock they own immediately prior to the effective time of the merger.
The transaction is expected to close in the first quarter of 2025.
